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US: Wall St opens higher on strong spending data

Tuesday, May 31, 2016 - 21:50

PHOTO: AFP

[NEW YORK] US stocks opened slightly higher on Tuesday after strong consumer spending data gave the latest sign of an improvement in economic growth and supported the Federal Reserve's stance to increase interest rates in the coming months.

The Dow Jones Industrial Average was up 15.2 points, or 0.09 per cent, at 17,888.42.

The S&P 500 was up 2.16 points, or 0.1 per cent, at 2,101.22.

The Nasdaq Composite was up 6.23 points, or 0.13 per cent, at 4,939.73.